Millennial Media will buy Boston-based mobile advertising technology company Nexage for $107.5 million in cash and stock, reports The Baltimore Sun.

The deal will give Millennial, the Canton-based mobile ad firm, more capabilities using live online marketplaces to connect advertisers with specific demographics of mobile device users. Nexage makes exchanges that allow advertisers to bid on mobile advertising space in real time, according to the Sun story by Scott Dance.

Dance’s story also stated:

“CEO Michael Barrett said in a statement the acquisition would help grow its business offering ad space through real-time bidding and maximize ad sales opportunities for publishers of mobile applications and websites. Millennial competes with the likes of Facebook and Google to build an inventory of ad space on smartphone and tablet applications and mobile websites and sell it to advertisers looking to reach users targeted by demographics and location.

“Nexage is Millennial’s second acquisition of a Boston technology firm in a little over a year. Millennial struck a deal in August 2013 to buy Jumptap for $225 million. Jumptap was one of Millennial’s key competitors among independent mobile ad companies.”

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